Summer Accounting in L&S
Explanation of funding related to Summer Term in the College of Letters & Science.
- Funding line for Summer Sessions expenses: 131-A9348##
- Funding line for Summer surplus: 131-A48##07
Departments typically pay summer expenses on fund 131-A9348## (where 93 is the code for the Division of Continuing Studies, 48 is the code for L&S, and ## is the department number). Because expenses are paid on fund 131, departments are responsible for actual fringes on salaries. The L&S Budget Office will post summer revenue to the 131-A9348## accounts in early October. The precise transfer amounts are reported on the final Financial Report with Revenue. The end-of-October balance in the 131-A9348## account reflects the department’s summer surplus.
In November, the L&S Budget office will transfer any balances from the 131-A9348## accounts to departmental 131-A48##07 accounts. Once the November transfer has been made, the 131-A9348## accounts will have zero balances, and should not be used again until next summer. Departments making use of summer surpluses should pay all expenses from the 131-A48##07 accounts. Please contact Mary Beth Roberts if you have any questions.
Use and carryover of 131 balancesDepartments are encouraged to make timely use of fund balances. The College hopes to continue to give departments flexibility to carry balances across fiscal years. However, departments should have concrete plans for spending any summer surplus, and the flexibility to carry balances forward may be jeopardized if department balances become too large. Guidance from UW System and central campus will inform L&S policy and practice regarding appropriate balances and carryover from year to year.
Summer surpluses might be used for a variety of one-time expenditures as approved by your divisional associate dean. These expenses include short-term staffing or teaching assistants beyond the department’s 101 STS or TA budget, stipends for graduate students, research or travel funds for faculty, recruitment expenses, departmental colloquia, or performance bonuses. Departments that believe they have sufficiently large and stable annual surpluses and a strong rationale for making permanent commitments (e.g., permanent faculty or staff hires or base salary increases) should discuss their situation with their divisional associate dean. All spending plans will require College approval.
Any losses in summer will be covered by the Summer Revenue account by default. Departments that end a summer with a negative surplus will be contacted by the L&S Budget Office to discuss how the situation will be addressed. In general, departments that lose money should be prepared to shift summer costs to the collateral source identified in their summer proposals.